Buyers or Dreamers

I’m not sure whether it’s Brexit or mid-summer madness but we seem to be inundated with buyers who want to buy a business using other people’s money. Last week I had a crowd who claimed to have “access to PE firms to raise funds and won’t need financial support.” They made an offer of £2m to buy a business making a profit of over £600k pa and with nearly £2m of Net Assets of which £1m was in cash. But the offer was to pay £1m on completion and the rest over 4 years.  When I had the temerity to point out that their offer meant that they were only paying on completion an amount equal to the cash at bank figure and made no allowance for the goodwill premium, they got upset and called me unprofessional! Really? Do these people think that we are so stupid that we don’t understand highly financially engineered offers?

There is a worrying and growing trend that all sorts of people seem to think that they can buy a business by borrowing against its assets and then getting vendor finance for the balance. You can’t!! As I keep pointing out, why would a vendor lend what is effectively their pension pot to a complete stranger? At Turner Butler we are now pushing back hard against these sort of buyers, they are a waste of our and our vendors’ time. If you are one of them please don’t apply for a business being advertised by us, you will be given short shrift and even if you threaten me with physical violence (which has now happened on two occasions!) it will not make any difference.

About Turner Butler

Looking for a Business to buy? The Turner Butler service is free to buyers. Please visit www.turnerbutler.co.uk to see all our businesses for sale.

Looking to sell your Business? We would be pleased to carry out a free confidential business valuation for you. Simply telephone us free on 0800 028 9999 to arrange an appointment with an experienced business valuation expert.

Client Satisfaction is very important to us at Turner Butler. Do please take a moment to read what our satisfied clients have to say about us http://www.turnerbutlertestimonials.co.uk

Buyers or Dreamers

New-Pro Foundries Limited Recently Sold by Turner Butler !!

“And the BAFTA goes to Turner Butler!”…..Turner Butler is delighted to announce the recent sale of New-Pro Foundries Limited, the specialist casting foundry responsible for producing the BAFTA Awards each year, among many other bespoke products. “Our buyer was delighted to have acquired a business with such a prestigious client base” said managing director Rupert Cattell, “And our vendors were equally pleased to have retired from running a business that requires considerable skills and hard work in a challenging environment.”

About Turner Butler

Looking for a Business to buy? The Turner Butler service is free to buyers. Please visit www.turnerbutler.co.uk to see all our businesses for sale.

Looking to sell your Business? We would be pleased to carry out a free confidential business valuation for you. Simply telephone us free on 0800 028 9999 to arrange an appointment with an experienced business valuation expert.

Client Satisfaction is very important to us at Turner Butler. Do please take a moment to read what our satisfied clients have to say about us http://www.turnerbutlertestimonials.co.uk

New-Pro Foundries Limited Recently Sold by Turner Butler

Courier & light haulage company specializing in ‘ugly freight Hampshire Successfully Sold by Turner Butler

Turner Butler successfully sold Courier & light haulage company specializing in ‘ugly freight Hampshire

Hey mark

We have finally completed. We exchanged on friday and completed yesterday. First day of trading is today.

Thank you for your assistance with this.

Many thanks!

Amit.

ABOUT TURNER BUTLER

Looking for a Business to buy? The Turner Butler service is free to buyers. Please visit www.turnerbutler.co.uk to see all our businesses for sale.

Looking to sell your Business? We would be pleased to carry out a free confidential business valuation for you. Simply telephone us free on 0800 028 9999 to arrange an appointment with an experienced business valuation expert

Client Satisfaction is very important to us at Turner Butler. Do please take a moment to read what our satisfied clients have to say about us http://www.turnerbutlertestimonials.co.uk

Courier & light haulage company specializing in ‘ugly freight Hampshire Successfully Sold by Turner Butler. Turner Butler is happy to announce this sale.

Another bumper year in sales of engineering businesses

Turner Butler are happy to announce yet another bumper year in sales of engineering businesses.

Leading ‘No sale, No fee’ broker, Turner Butler are having another bumper year in sales of engineering businesses.

Tony Bell, Regional Manager, Turner Butler 

comments; “Although 2014 showed significant growth in sales of manufacturing businesses throughout the UK, we are still experiencing further growth throughout 2015 as a result of the Government’s focus on the manufacturing sector and the banks re-entering the sector and showing greater appetite to support buyers keen to acquire profitable manufacturing businesses. This extends to first time owners of engineering businesses, as well as existing engineering businesses looking to expand. Once you add in the overseas investors looking to establish a foothold in the UK marketplace and UK based high net worth individuals, the buyer pool has increased significantly in the recent past resulting in significant increased transactional activity’.

Over the past few weeks Turner Butler have completed on a number of business transactions from right across the full spectrum of the engineering sector – ranging from Bristol based KM Engineering Limited, a well-established sub-contract engineering company specializing in CNC machining exotic materials for the oil and gas industry, right through to Merlx Limited, an East Riding based electrical engineering business specializing in design, installation, testing and repair. Both businesses sold as a result of Turner Butler’s comprehensive marketing campaign appealing to a wide number of interested parties, resulting in, in KM Engineering’s case, of a sale within just two months of the Business being brought to market.

Another bumper year in sales of engineering businesses by the leading 'No Sale, No fee' broker, Turner Butler